SortRefer launches equity release legal product
25 February 2019
SortRefer, the online conveyancing portal, has launched an equity release legal service for advisers and their customers to ensure a trouble free process designed to protect the interests of both customer and lender.
The product will be added in two stages. The first is the remortgage proposition, which launched today. The second is for sale and purchase transactions, which will be added in the next month.
Equity Release is becoming increasingly popular as a way of customers releasing funds from their home in the form of a lump sum or drawdown facility. An individual may look to release equity from their home for a number of different reasons, including home improvements, family needs or for many other lifestyle reasons.
The key features are:-
- An additional SortRefer service providing advisers with greater control of the process and peace of mind for the customer
- Real time progress updates within our case tracking system
- Advice from Equity Release Council solicitor members – specialists in equity release conveyancing law
- Home visits
- No completion, no fee
- Instant ‘click and quote’ facility on the SortRefer site. Brokers can either save or instruct the quotation straight away.
According to SortRefer Chief Executive, Kevin Tunnicliffe, the growth of equity release along with increasing demand from SortRefer users for a conveyancing service to recommend to customers, has made the addition of the new service a priority.
He said, “Equity release lending is seeing massive growth. We want to offer the same kind of legal support for equity release cases, as we already do for conventional mortgages. Not many legal practices have the working expertise in this area and it is vitally important that advisers have the confidence to recommend the right legal service to complement their mortgage advice.
We have appointed two firms, Birchall Blackburn and Equilaw, both of whom are Equity Release Council members with the expertise and knowledge of the sector to ensure that the process runs smoothly and customer needs are addressed in a way that everyone involved has confidence in the outcome.
Accessing the service is as easy as it is for any of our other conveyancing services and introducers can generate instant penny accurate quotes and instruct online. This is the perfect service for an increasingly important market niche.”
